New FASB Segment Accounting Rules Carry Big Implications for Using Non-GAAP Measures
Accountants are thinking about the FASB’s new segment reporting rules that take effect this year, mindful of the implications the …
FAQs Address Agriculture Department’s Discrimination Financial Assistance Program
The IRS has issued frequently asked questions (FAQs) addressing the Department of Agriculture’s (USDA) Discrimination Financial Assistance Program, which was …
As Promised to Congress, PCAOB Schedules Roundtable on Proposal on Noncompliance With Laws and Regulations
Following a strong opposition by the auditing profession, public company management, lawyers, and Republican lawmakers on the Public Company Accounting …
Judge Rejects Audit Firm’s Bid to Halt Discovery in SEC Independence Case
A federal judge on February 22, 2024, denied Prager Metis CPAs LLC’s request to stay discovery as it seeks to …
Arizona Sues IRS Over Federal Tax on State Refund
The Arizona Attorney General filed a complaint against the IRS after the agency did not budge on its stance that …
Texas Announces 2024 Sales Tax Holiday Dates
By Margaret Eisler The Texas Comptroller of Public Accounts has announced the dates of the 2024 sales tax holidays for …
Many Accounting Firms Will Be Required to Comply With New Beneficial Ownership Reporting Rules
By PPC Staff In January, we gave you a heads up on the beneficial ownership reporting requirements under the Corporate Transparency Act. …
PCAOB Fines WithumSmith+Brown $2M for Widespread Quality Control Failures in SPAC Audits
The PCAOB on February 21, 2024, said WithumSmith+Brown, PC was fined $2 million for widespread failures to comply with board …
Energy Sector Pushes Back Against Investment Tax Credit ’80/20 Rule’
Representatives from the energy industry asked the IRS to further clarify or outright eliminate an eligibility test included in proposed energy …
Payroll on Point: Employee Inquiries on Withholding During Tax Filing Season
By Debbie Tam Checkpoint’s Payroll on Point series explores common payroll scenarios and offers practical guidance. Question: Now that the 2023 …